Needham & Company Lifts PT on Angie's List (ANGI) to $20

February 14, 2013 8:25 AM EST
Get Alerts ANGI Hot Sheet
Price: $7.38 -1.86%

Rating Summary:
    4 Buy, 17 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 23 | Down: 34 | New: 34
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Needham & Company lifted its price target on Angie's List (NASDAQ: ANGI) from $13 to $20 and reiterated its Buy rating following strong Q4 results. The firm said leverage in the model is starting to surface.

"Angie's List reported a solid quarter that saw the company post solid revenue while delivering higher than expected EBITDA margin. The margin surprise was largely driven by lower Selling expenses and efficiencies in Marketing spending. While we believe Angie's will continue to aggressively grow its member base and the number of participating service providers on its platform, we believe investors can expect to see solid margin expansion throughout 2013. We further believe dissipating liquidity worries should act as a tailwind."

The firm raised FY13 EPS from ($0.52) to ($0.35) and raised FY14 from $0.16 to $0.34.

For an analyst ratings summary and ratings history on Angie's List click here. For more ratings news on Angie's List click here.

Shares of Angie's List closed at $13.62 yesterday.

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